FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   (Mark One)

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 2001

                                       OR

                TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

             For the transition period from ________ to ___________

                        Commission file number: 333-76435


                 WNC HOUSING TAX CREDIT FUND VI, L.P., Series 7


                              California 33-0761517

                (State or other jurisdiction of (I.R.S. Employer
               incorporation or organization) Identification No.)


                         3158 Redhill Avenue, Suite 120
                              Costa Mesa, CA 92626
                    (Address of principal executive offices)

                                 (714) 662-5565
                               (Telephone number)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.
Yes     X     No
    ---------     ---------


<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)


                               INDEX TO FORM 10-Q

              For the Three and Six Months Ended September 30, 2001


PART I. FINANCIAL INFORMATION


         Item 1. Financial Statements

                  Balance Sheets
                     September 30, 2001 and March 31, 2001 ....................3

                  Statements of Operations
                     For the three and six months ended
                        September 30, 2001 and 2000............................4

                  Statement of Partners' Equity (Deficit)
                     For the six months ended September 30, 2001...............5

                  Statement of Cash Flows
                     For the six months ended September 30, 2001 and 2000......6

                  Notes to Financial Statements................................7

         Item 2.  Management's Discussion and Analysis of Financial
                     Condition and Results of Operations..................... 14

         Item 3.  Quantitative and Qualitative Disclosures About Market Risks.15


PART II. OTHER INFORMATION

         Item 1.  Legal Proceedings...........................................15

         Item 6.  Exhibits and Reports on Form 8-K............................15

         Signatures...........................................................16


                                       2
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                                 BALANCE SHEETS

<TABLE>
<CAPTION>


                                                                   September 30, 2001              March 31, 2001
                                                                 -----------------------        ----------------------
                                                                      (unaudited)
                                     ASSETS

<S>                                                           <C>                            <C>
Cash and cash equivalents                                     $               4,205,026      $              5,103,916
Funds held in escrow disbursement accounts                                    1,153,966                     5,664,138
Subscription and notes receivable (Note 5)                                            -                       398,750
Investments in limited partnerships (Note 3)                                 12,371,532                     9,482,570
Loans receivable (Note 2)                                                       808,595                     1,080,974
Accrued interest receivable and other assets                                     51,598                        65,565
                                                                 -----------------------        ----------------------

                                                              $              18,590,717      $             21,795,913
                                                                 =======================        ======================


                                     LIABILITIES AND PARTNERS' EQUITY (DEFICIT)

Liabilities:
   Due to limited partnerships                                $               1,985,635      $              5,142,481
   Accrued fees and expenses due to General
      Partner and affiliates (Note 4)                                           153,408                       112,886
                                                                 -----------------------        ----------------------

Total liabilities                                                             2,139,043                     5,255,367
                                                                 -----------------------        ----------------------

Commitment and contingencies (Note 7)

Partners' equity (deficit) (Note 5):
   General Partner                                                               (1,550)                       (1,424)
   Limited Partners (25,000 units authorized and 18,850
      units issued and outstanding at September 30,
      and March 31, 2001)                                                    16,453,224                    16,541,970
                                                                 -----------------------        ----------------------

Total partners' equity                                                       16,451,674                    16,540,546
                                                                 -----------------------        ----------------------

                                                              $              18,590,717      $             21,795,913
                                                                 =======================        ======================

</TABLE>

                 See accompanying notes to financial statements

                                        3
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                            STATEMENTS OF OPERATIONS

         For the Three and Six months Ended September 30, 2001 and 2000
                                   (unaudited)

<TABLE>
<CAPTION>

                                                                       2001                                   2000
                                                      ---------------------------------------   ----------------------------------
                                                        Three months           Six months        Three months        Six months
                                                      -----------------     -----------------   ----------------    --------------

<S>                                                 <C>                   <C>                           <C>              <C>
Interest income                                     $           29,097    $          79,385             86,280           152,989
                                                      -----------------     -----------------   ----------------    --------------

Operating expenses:
     Amortization (Note 3)                                      14,229               28,458              8,480            13,842
     Asset management fees (Note 4)                              2,909               13,466              3,000             4,744
     Legal and accounting fees                                   6,456               11,416             13,162            15,015
     Other                                                       3,213                6,381              2,120             7,457
                                                      -----------------     -----------------   ----------------    --------------

       Total operating expenses                                 26,807               59,721             26,762            41,058
                                                      -----------------     -----------------   ----------------    --------------

Income from operations                                           2,290               19,664             59,518           111,931
                                                      -----------------     -----------------   ----------------    --------------

Equity in losses of limited partnerships (Note 3)             (104,839)            (138,396)           (83,638)         (120,814)
                                                      -----------------     -----------------   ----------------    --------------

Net loss                                            $         (102,549)   $        (118,732)           (24,120)           (8,883)
                                                      =================     =================   ================    ==============

Net loss allocated to:
     General Partner                                $             (103)   $            (119)               (24)               (9)
                                                      =================     =================   ================    ==============

     Limited Partners                               $         (102,446)   $        (118,613)           (24,096)           (8,874)
                                                      =================     =================   ================    ==============

Net loss per limited partnership unit               $               (5)   $              (6)                (2)               (1)
                                                      =================     =================   ================    ==============

Outstanding weighted average
   limited partner units                                        18,550               18,550             12,543            10,686
                                                      =================     =================   ================    ==============
</TABLE>




                 See accompanying notes to financial statements

                                        4
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                     STATEMENT OF PARTNERS' EQUITY (DEFICIT)

                   For the Six months Ended September 30, 2001
                                   (unaudited)

<TABLE>
<CAPTION>


                                                        General              Limited
                                                        Partner             Partners                Total
                                                    ----------------     ----------------     ------------------

<S>                                               <C>                  <C>                  <C>
Partners' equity (deficit) at March 31, 2001      $         (1,424)    $     16,541,970     $       16,540,546

Sale of limited partnership units issued for
   promissory notes receivable                                   -               37,000                 37,000

Offering expenses                                               (7)              (7,133)                (7,140)

Net loss                                                      (119)            (118,613)              (118,732)
                                                    ----------------     ----------------     ------------------

Partners' equity (deficit) at September 30, 2001  $         (1,550)          16,453,224             16,451,674
                                                    ================     ================     ==================

</TABLE>



                 See accompanying notes to financial statements

                                        5
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                             STATEMENT OF CASH FLOWS

              For the Six months Ended September 30, 2001 and 2000
                                   (unaudited)

<TABLE>
<CAPTION>
                                                                      2001                    2000
                                                                      ----                    ----
Cash flows from operating activities:
<S>                                                         <C>                      <C>
   Net loss                                                 $             (118,732)  $             (8,883)
   Adjustments to reconcile net income to net cash
      provided by operating activities:
      Amortization                                                          28,458                 13,842
      Equity in losses of limited partnerships                             138,396                120,814
      Change in accrued interest receivable                                 13,967                (12,244)
      Change in accrued fees and expenses due to
       General Partner and affiliates                                       40,522                  3,231
                                                                -------------------      -----------------

Net cash provided by operating activities                                  102,611                116,760
                                                                -------------------      -----------------

Cash flows from investing activities:
   Investments in limited partnerships, net                             (6,212,662)              (805,811)
   Funds held in escrow disbursement account                             4,510,172             (2,478,577)
   Loans receivable                                                        272,379               (446,000)
   Capitalized acquisition costs and fees                                        -               (520,650)
                                                                -------------------      -----------------

Net cash used in investing activities                                   (1,430,111)            (4,251,038)
                                                                -------------------      -----------------

Cash flows from financing activities:
   Capital contributions                                                   435,750              7,061,820
   Offering expenses                                                        (7,140)              (860,530)
                                                                -------------------      -----------------

Net cash provided by financing activities                                  428,610              6,201,290
                                                                -------------------      -----------------

Net increase (decrease) in cash and cash equivalents                      (898,890)             2,067,012
                                                                -------------------      -----------------

Cash and cash equivalents, beginning of period                           5,103,916              4,295,471
                                                                -------------------      -----------------

Cash and cash equivalents, end of period                    $            4,205,026   $          6,362,483
                                                                ===================      =================

SUPPLEMENTAL DISCLOSURE OF CASH
   FLOW INFORMATION
      Taxes paid                                            $                  800   $                800
                                                                ===================      =================

</TABLE>

                 See accompanying notes to financial statements

                                        6
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Six Months Ended
                               September 30, 2001
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
---------------------------------------------------

General
-------

The accompanying  condensed unaudited financial statements have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information and with the  instructions to Form 10-Q for quarterly  reports under
Section 13 or 15(d) of the Securities Exchange Act of 1934. Accordingly, they do
not include all of the information and footnotes  required by generally accepted
accounting  principles  for  complete  financial  statements.  In the opinion of
management, all adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included.  Operating results for the
three and six months ended September 30, 2001 are not necessarily  indicative of
the results that may be expected for the fiscal year ending March 31, 2002.  For
further  information,  refer to the financial  statements and footnotes  thereto
included  in the  Partnership's  annual  report on Form 10-K for the fiscal year
ended March 31, 2001.

Organization
------------

WNC  Housing  Tax  Credit  Fund  VI,  L.P.,  Series  7,  (a  California  Limited
Partnership) (the  "Partnership")  was formed on June 16, 1997 under the laws of
the state of California.  The Partnership began operations on September 3, 1999,
the  effective  date of its public  offering  pursuant to Security  and Exchange
approval of the Partnership's  Pre-Effective  Amendment No. 3 to Form S-11 filed
with the  Securities and Exchange  Commission on July 16, 1999. The  Partnership
was formed to invest primarily in other limited partnerships (the "Local Limited
Partnerships")  which  own  and  operate  multi-family  housing  complexes  (the
"Housing  Complexes") that are eligible for low income housing tax credits.  The
local  general  partners  (the "Local  General  Partners") of each Local Limited
Partnership will retain  responsibility for maintaining,  operating and managing
the Housing Complex.

The general partner is WNC & Associates,  Inc. (the "General Partner").  Wilfred
N. Cooper, Sr., through the Cooper Revocable Trust, owns just less than 66.8% of
the  outstanding  stock of WNC & Associates,  Inc.  John B. Lester,  Jr. was the
original limited partner of the Partnership and owns,  through the Lester Family
Trust,  28.6% of the  outstanding  stock of WNC &  Associates,  Inc.  Wilfred N.
Cooper,  Jr., President of WNC & Associates,  Inc., owns 2.1% of the outstanding
stock of  Associates.  The business of the  Partnership  is conducted  primarily
through WNC & Associates, Inc., as the Partnership has no employees of its own.

The Partnership shall continue in full force and effect until December 31, 2060,
unless terminated prior to that date, pursuant to the partnership agreement or
law.

The financial  statements  include only activity relating to the business of the
Partnership,  and do not give  effect to any assets that the  partners  may have
outside of their interests in the Partnership, or to any obligations,  including
income taxes, of the partners.

The  Partnership  agreement  authorized the sale of up to 25,000 units at $1,000
per  Unit  ("Units").  As of  September  31,  2001,  18,850  Units  representing
subscriptions  in the  amount  of  $18,828,745  had  been  sold,  net of  volume
discounts of $45 and $21,210 of dealer discounts, had been accepted. The General
Partner has a 0.1% interest in operating profits and losses,  taxable income and
losses,  cash available for distribution from the Partnership and tax credits of
the  Partnership.  The limited partners will be allocated the remaining 99.9% of
these items in proportion to their respective investments.


                                       7
<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Six Months Ended
                               September 30, 2001
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

After the limited  partners  have received  proceeds from a sale or  refinancing
equal to their capital  contributions and their return on investment (as defined
in the  Partnership  Agreement)  and the General  Partner has received  proceeds
equal  to its  capital  contribution  and a  subordinated  disposition  fee  (as
described in Note 4) from the  remainder,  any  additional  sale or  refinancing
proceeds will be distributed 90% to the limited partners (in proportion to their
respective investments) and 10% to the General Partner.

Risks and Uncertainties
-----------------------

The Partnership's  investments in Local Limited  Partnerships are subject to the
risks incident to the management and ownership of low-income  housing and to the
management and ownership of multi-unit  residential  real estate.  Some of these
risks  are that the low  income  housing  credit  could be  recaptured  and that
neither the  Partnership's  investments  nor the Housing  Complexes owned by the
Local Limited Partnerships will be readily marketable. To the extent the Housing
Complexes  receive  government  financing  or operating  subsidies,  they may be
subject to one or more of the following risks: difficulties in obtaining tenants
for the Housing Complexes: difficulties in obtaining rent increases; limitations
on cash distributions; limitations on sales or refinancing of Housing Complexes;
limitations on transfers of Local Limited Partnership Interests:  limitations on
removal of Local General Partners; limitations on subsidy programs; and possible
changes in applicable regulations.  The Housing Complexes are or will be subject
to  mortgage  indebtedness.  If a Local  Limited  Partnership  does not make its
mortgage payments, the lender could foreclose resulting in a loss of the Housing
Complex  and  low-income  housing  credits.  As a limited  partner  of the Local
Limited Partnerships, the Partnership will have very limited rights with respect
to management of the Local  Limited  Partnerships,  and will rely totally on the
Local General  Partners of the Local Limited  Partnerships for management of the
Local Limited Partnerships.  The value of the Partnership's  investments will be
subject  to  changes  in  national  and  local  economic  conditions,  including
unemployment  conditions,  which could adversely  impact vacancy levels,  rental
payment  defaults and operating  expenses.  This, in turn,  could  substantially
increase  the  risk of  operating  losses  for  the  Housing  Complexes  and the
Partnership.  In addition,  each Local Limited  Partnership  is subject to risks
relating  to  environmental  hazards  and  natural  disasters,  which  might  be
uninsurable. Because the Partnership's operations will depend on these and other
factors  beyond  the  control  of the  General  Partner  and the  Local  General
Partners,  there can be no assurance  that the  anticipated  low income  housing
credits will be available to Limited Partners.

In addition  Limited  Partners are subject to risks in that the rules  governing
the low income  housing  credit are  complicated,  and the use of credits can be
limited.  The only  material  benefit from an investment in Units may be the low
income housing credits. There are limits in the transferability of Units, and it
is unlikely that a market for Units will develop.  All management decisions will
be made by the General Partner.

                                       8
<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Six Months Ended
                               September 30, 2001
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

Method of Accounting for Investments in Limited Partnerships
------------------------------------------------------------

The Partnership  intends to account for its investments in limited  partnerships
using the equity method of accounting,  whereby the Partnership  will adjust its
investment balance for its share of the Local Limited  Partnership's  results of
operations and for any distributions  received.  The accounting  policies of the
Local  Limited  Partnerships  are  expected to be  consistent  with those of the
Partnership. Costs incurred by the Partnership in acquiring the investments will
be  capitalized  as part of the investment and amortized over 30 years (see Note
3).

Offering Expenses
-----------------

Offering  expenses are expected to consist of  underwriting  commissions,  legal
fees,  printing,  filing and  recordation  fees,  and other  costs  incurred  in
connection with the selling of limited partnership interests in the Partnership.
The General  Partner is obligated to pay all  offering  and  organization  costs
inclusive of selling commissions and dealer manager fees, in excess of 4% of the
total  offering  proceeds.  Offering  expenses  are  reflected as a reduction of
limited  partners'  capital and  amounted to  $2,429,245  and  $2,422,105  as of
September 30, 2001 and March 31, 2001, respectively.

Use of Estimates
----------------

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of assets  and  liabilities  and  disclosure  of
contingent assets and liabilities at the date of the financial  statements,  and
the  reported  amounts of revenues  and expenses  during the  reporting  period.
Actual results could materially differ from those estimates.

Cash and Cash Equivalents
-------------------------

The  Partnership   considers  all  highly  liquid   investments  with  remaining
maturities of three months or less when purchased to be cash equivalents.  As of
September 30, 2001 and March 31, 2001 the  Partnership  had cash  equivalents of
$2,161,000 and $2,128,000,  respectively. These amounts consist primarily of tax
exempt  instruments  collateralized  by tax exempt  municipal bonds from various
municipalities  throughout the United  States.  These  instruments  generate tax
exempt yields and generally have 35 days or less maturities.

Concentration of Credit Risk
----------------------------

At September  30, 2001,  the  Partnership  maintained  cash  balances at certain
financial institutions in excess of the federally insured maximum.

Net Income Per Limited Partner Unit
-----------------------------------

Net income per limited  partnership unit is calculated  pursuant to Statement of
Financial  Accounting Standards No. 128, Earnings Per Share. Net income per unit
includes no dilution  and is computed by dividing  income  available  to limited
partners by the weighted average number of units outstanding  during the period.
Calculation of diluted net income per unit is not required.


                                       9
<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Six Months Ended
                               September 30, 2001
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

Reporting Comprehensive Income
------------------------------

In June 1997,  the FASB  issued  Statement  of  Financial  Accounting  Standards
("SFAS") No. 130, Reporting  Comprehensive  Income.  This statement  establishes
standards for reporting the components of comprehensive income and requires that
all items that are  required to be  recognized  under  accounting  standards  as
components of comprehensive  income be included in a financial statement that is
displayed with the same prominence as other financial statements.  Comprehensive
income  includes net income as well as certain items that are reported  directly
within a separate  component of partners' equity and bypass net income.  For the
periods  presented,  the  Partnership  has no  elements  of other  comprehensive
income, as defined by SFAS No. 130.

Reclassification
----------------

Certain  prior  period  balances  have  been  reclassified  to  conform  to  the
presentation for the three and six months ended September 30, 2001.

NOTE 2 - LOANS RECEIVABLE
-------------------------

Loans  receivable  represent  amounts loaned by the Partnership to certain Local
Limited  Partnerships  in which the  Partnership  may  invest.  These  loans are
generally applied against the first capital  contribution due if the Partnership
ultimately invests in such entities.  In the event that the Partnership does not
invest in such  entities,  the loans are to be repaid  with  interest at a rate,
which is equal to the rate charged to the holder.  At September 30, 2001,  loans
receivable were due from four different Local Limited Partnerships.

NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS
--------------------------------------------

As of  September  30, 2001 and March 31,  2001,  the  Partnership  has  acquired
limited  partnership  interests in eleven and eight Local Limited  Partnerships,
respectively. Each Local Limited Partnership owns one Housing Complex consisting
of an aggregate of 386 and 291 apartment  units,  respectively.  As of September
30, 2001  construction or  rehabilitation of three of the Housing Complexes were
still  in  process.  The  respective  general  partners  of  the  Local  Limited
Partnerships manage the day-to-day operations of the entities. Significant Local
Limited  Partnership  business  decisions require approval from the Partnership.
The  Partnership,  as a limited  partner,  is generally  entitled to 99.98%,  as
specified in the Local Limited Partnership agreements,  of the operating profits
and  losses,  taxable  income and losses  and tax  credits of the Local  Limited
Partnerships.

Equity  in  losses  of the  Local  Limited  Partnerships  is  recognized  in the
financial  statements until the related  investment account is reduced to a zero
balance. Losses incurred after the investment account is reduced to zero are not
recognized. If the Local Limited Partnerships report net income in future years,
the  Partnership  will resume applying the equity method only after its share of
such net  income  equals  the share of net  losses  not  recognized  during  the
period(s) the equity method was suspended.

Distributions  received by limited  partners are accounted for as a reduction of
the investment balance.  Distributions received after the investment has reached
zero are recognized as income. As of September 30, 2001, no investment  accounts
in Local Limited Partnerships has reached zero.


                                       10
<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Three and Six Months Ended
                               September 30, 2001
                                   (unaudited)


NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS, continued
-------------------------------------------------------

Following  is a summary of the equity  method  activity  of the  investments  in
limited partnerships for the periods presented:
<TABLE>
<CAPTION>

                                                                For the Six months
                                                                      Ended                 For the Year Ended
                                                                September 30, 2001            March 31, 2001
                                                              -----------------------   ----------------------------

<S>                                                         <C>                       <C>
  Investment in limited partnerships, beginning of period   $             9,482,570   $                  1,284,221
  Capital contributions paid, net                                         6,212,662                      2,205,074
  Capital contributions payable                                          (3,156,846)                     5,071,026
  Capitalized acquisition fees and costs                                          -                      1,053,270
  Equity in losses of limited partnerships                                 (138,396)                       (90,404)
  Amortization of capitalized
    acquisition fees and costs                                              (28,458)                       (40,617)
                                                              -----------------------   ----------------------------

  Investment in limited partnerships, end of period         $            12,371,532   $                  9,482,570
                                                              =======================   ============================
</TABLE>

Selected  financial  information for the six months ended September 30, 2001 and
2000 from the unaudited combined condensed  financial  statements of the limited
partnerships in which the Partnership has invested as follows:

                     COMBINED CONDENSED STATEMENT OF OPERATIONS
<TABLE>
<CAPTION>

                                                                       2001                   2000
                                                                 -------------------    ------------------

<S>                                                            <C>                    <C>
         Revenue                                               $           837,000    $          191,000
                                                                 -------------------    ------------------

         Expenses:
           Interest expense                                                376,000                64,000
           Depreciation                                                    150,000                64,000
           Operating expenses                                              450,000               184,000
                                                                 -------------------    ------------------
             Total expenses                                                976,000               312,000
                                                                 -------------------
                                                                                        ------------------
         Net loss                                              $          (139,000)   $         (121,000)
                                                                 ===================    ==================
         Net loss allocable to the
              Partnership                                      $          (139,000)   $         (121,000)
                                                                 ===================    ==================
         Net loss recorded by the
              Partnership                                      $          (138,000)   $         (121,000)
                                                                 ===================    ==================
</TABLE>

                                       11
<PAGE>
NOTE 4 - RELATED PARTY TRANSACTIONS
-----------------------------------

The Partnership has no officers,  employees,  or directors.  However,  under the
terms of the  Partnership  Agreement the Partnership is obligated to the General
Partner or its affiliates for the following fees:

     (a)  Acquisition fees of 7% of the gross proceeds from the sale of Units as
          compensation for services  rendered in connection with the acquisition
          of Local Limited Partnerships.  As of September 30, 2001 and March 31,
          2001,  the  Partnership   incurred  acquisition  fees  of  $1,319,500.
          Accumulated  amortization of these  capitalized costs were $56,875 and
          $34,881 as of September 30, 2001 and March 31, 2001, respectively.

     (b)  Acquisition  costs of 2% of the gross proceeds from the sales of Units
          as full  reimbursement  of costs  incurred by the  General  Partner in
          connection with the acquisition of Local Limited  Partnerships.  As of
          September  30,  2001 and  March 31,  2001,  the  Partnership  incurred
          acquisition costs of $377,000.  Accumulated  amortization were $16,598
          and $10,134 as of September 30, 2001 and March 31, 2001, respectively.

     (c)  An annual  asset  management  fee not to exceed  0.2% of the  invested
          assets  (defined  as  the  Partnership's  capital  contributions  plus
          reserves of the  Partnership  of up to 5% of gross  proceeds  plus its
          allocable  percentage  of the mortgage  debt  encumbering  the housing
          complexes)  of the  Local  Limited  Partnerships.  Management  fees of
          $13,466  and  $34,573  were  incurred  during  the  six  months  ended
          September 30, 2001 and the year ended March 31, 2001, respectively.

     (d)  A subordinated  disposition  fee in an amount equal to 1% of the sales
          price of real estate sold.  Payment of this fee is subordinated to the
          limited  partners  receiving a return on investment (as defined in the
          Partnership  Agreement) and is payable only if the General  Partner or
          its affiliates render services in the sales effort.

The accrued fees and expenses due to the General Partner and affiliates  consist
of the following at:
<TABLE>
<CAPTION>
                                                                   September 30, 2001       March 31, 2001
                                                                  ----------------------   ------------------
<S>                                                             <C>                      <C>
         Interest payable to Local Limited Partnerships         $               127,799  $            66,436
         Organizational, offering and selling costs payable                       2,613               21,735
         Asset management fee payable                                            18,681               24,715
         Reimbursement for expenses paid by
           the General Partner or an affiliate                                    4,315                    -
                                                                  ----------------------   ------------------
                                                                $               153,408  $           112,886
                                                                  ======================   ==================
</TABLE>
The General Partners do not anticipate that the accrued fees will be paid until
such time as capital reserves are in excess of future foreseeable working
capital requirements.

NOTE 5 - SUBSCRIPTIONS AND NOTES RECEIVABLE
-------------------------------------------

As of September 30, 2001, the Partnership had received  subscriptions for 18,850
units which  included  promissory  notes of $282,250,  of which  $282,250 of the
promissory  notes were  collected  before  September  30,  2001 and prior to the
issuance of these financial statements, leaving an unpaid balance of $0. Limited
partners who subscribed for ten or more units of limited  partnerships  interest
($10,000) could elect to pay 50% of the purchase price in cash upon subscription
and the  remaining 50% by the delivery of a promissory  note  payable,  together
with  interest at a rate equal to the three month  treasury  bill rate as of the
date of execution of the promissory  note, due no later than 13 months after the
subscription date.

NOTE 6 - INCOME TAXES
---------------------

No provision for income taxes has been recorded in the financial statements, as
any liability for income taxes is the obligation of the partners of the
Partnership.

NOTE 7 - COMMITMENTS AND CONTINGENCIES
--------------------------------------

In October and November 2001, the Partnership made previously  committed capital
contributions in the amount of $42,778.

                                       12
<PAGE>

Item 2. Management's Discussion and Analysis of Financial Condition and Results
        of Operations

Forward Looking Statements
--------------------------

With  the  exception  of  the  discussion  regarding   historical   information,
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations"  and other  discussions  elsewhere in this Form 10-Q contain forward
looking statements. Such statements are based on current expectations subject to
uncertainties and other factors,  which may involve known and unknown risks that
could  cause  actual  results  of  operations  to differ  materially  from those
projected or implied. Further, certain forward-looking statements are based upon
assumptions about future events, which may not prove to be accurate.

Risks and uncertainties  inherent in forward looking statements include, but are
not  limited  to,  our  future  cash  flows and  ability  to  obtain  sufficient
financing, level of operating expenses, conditions in the low income housing tax
credit property market and the economy in general, as well as legal proceedings.
Historical  results are not necessarily  indicative of the operating results for
any future period.

Subsequent  written and oral forward  looking  statements  attributable to us or
persons  acting on our behalf  are  expressly  qualified  in their  entirety  by
cautionary  statements  in this Form 10-Q and in other reports we filed with the
Securities and Exchange  Commission.  The following discussion should be read in
conjunction  with the  Consolidated  Financial  Statements and the Notes thereto
included elsewhere in this filing.

The following discussion and analysis compares the results of operations for the
fiscal  quarter  ended  September  30,  2001 and  2000,  and  should  be read in
conjunction   with  the  condensed   consolidated   financial   statements   and
accompanying notes included within this report.

Financial Condition
-------------------

The Partnership's assets at September 30, 2001 consisted primarily of $4,205,026
in  cash  and  cash  equivalents,   $1,153,966  in  cash  in  escrow,  aggregate
investments in the eleven Local Limited Partnerships of $12,372,000 and $809,000
in loans  receivable.  Liabilities at September 30, 2001 primarily  consisted of
$1,986,000  due to limited  partnerships,  $26,000 of accrued  asset  management
fees,  commissions  payable,  and  reimbursements  due to the General Partner or
affiliates and $128,000 in interest payable.

Results of Operations
---------------------

Three months Ended  September 30, 2001 Compared to Three months Ended  September
30, 2000. The  Partnership's  net loss for the three months ended  September 30,
2001 was  $(103,000),  reflecting  an  increase  in loss of  $(79,000)  from the
$(24,000) net loss for the three months ended  September 30, 2000.  The increase
in net loss was  primarily  due to a  decrease  in  income  from  operations  of
(58,000)  from $60,000 to $2,000 for the three months ended  September  30, 2000
and 2001,  respectively.  The  decrease  in  income  from  operations  is caused
primarily  by the  decrease of  $(57,000)  in interest  income,  from $86,000 to
$29,000 for the three months ended  September  30, 2000 and 2001,  respectively.
Along with the  increase in net loss,  equity in losses of limited  partnerships
increased by $(21,000) to $(105,000)  from  $(84,000) for the three months ended
September 30, 2001 and 2000, respectively.

Six months Ended  September 30, 2001 Compared to Six months Ended  September 30,
2000. The Partnership's net loss for the six months ended September 30, 2001 was
$(119,000),  reflecting an increase in loss of $(110,000)  from the $(9,000) net
loss  experienced  for the six months ended  September 30, 2000. The increase in
net loss was primarily  due to a decrease in income from  operations of (92,000)
from  $112,000 to $20,000 for the six months ended  September 30, 2000 and 2001,
respectively. The operation change is due to a decrease of $(74,000) in interest
income, from $153,000 to $79,000 for the six months ended September 30, 2000 and
2001,  respectively.  Also,  operating  expenses increased by $19,000 to $60,000
from $41,000 for the six months ended September 30, 2001 and 2000, respectively.
Along with the  increase in net loss,  equity in losses of limited  partnerships
increased by $(17,000)  from  $(121,000) to $(138,000)  for the six months ended
September 30, 2000 and 2001, respectively.

                                       13
<PAGE>

 Cash Flows
 ----------

Six months Ended  September 30, 2001 Compared to Six months Ended  September 30,
2000.  Net decrease in cash during the six months ended  September  30, 2001 was
$(899,000),  compared  to a net  increase  in  cash  for the  six  months  ended
September  30, 2000 of  $2,067,000  reflecting a decrease of  $(2,966,000).  The
decrease in net cash used is due primarily to $(5,772,000)  decrease in net cash
provided by financing  activities due to the completion of syndication  process.
The decrease in cash provided by financing activities was offset by the decrease
by $2,821,000 of cash used in investing activities,  due to capital contributing
to Local  Limited  Partnerships,  and an decrease in cash  provided by operating
activities  by $(14,000) to $103,000  during the six months ended  September 30,
2001 from $117,000 for the six months ended September 30, 2000.

The Partnership  expects its future cash flows,  together with its net available
assets at September 30, 2001, to be sufficient to meet all currently foreseeable
future cash requirements.

                                       14
<PAGE>


Item 3: Quantitative and Qualitative Disclosures Above Market Risks

         NOT APPLICABLE


Part II.  Other Information

Item 1.  Legal Proceedings

         NONE

Item 6.  Exhibits and Reports on Form 8-K

A form  8-K/A was filed on July 2, 2001  amending  the form 8-K dated  April 16,
2001. Pro forma financial information respecting the acquisition was included.


                                       15
<PAGE>


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

WNC HOUSING TAX CREDIT FUND VI, L.P., Series 7
----------------------------------------------
(Registrant)

By:   WNC & Associates, Inc., General Partner of the Registrants



By:   /s/ Wilfred N. Cooper, Jr.


Wilfred N. Cooper
Jr., President - Chief Operating Officer of WNC & Associates, Inc.

Date: December 3, 2001



By:  /s/ Thomas J. Riha


Thomas J. Riha
Vice President - Chief Financial Officer of WNC & Associates, Inc.

Date: December 3, 2001







                                       16